What to Do When Waiting on a Clermont Short Sale

Use Short Sale Waiting Period Wisely

Some stay as far away from Short Sales as they can, some go after them. If you are a Buyer who has put an offer on a Short Sale listing and waiting for the Short Sale lender’s approval, you must use this time wisely.What to Do When Waiting on a Clermont Short Sale

-Short Sale Lender may not approve the sale price- Although the short sale process has improved over the past couple of years, waiting period continues to be long(typically 3-4 months). If home prices increase between the time the offer is made and the time short sale lender orders a BPO(Broker Price Opinion) or an appraisal, chances are, fair market value of the house will be higher than offer price. Buyers of short sale homes must prepare themselves to pay higher for the home than original offer.

-Distressed homeowner may not qualify for Short Sale- You must keep in mind that distressed homeowner(seller) must provide certain documents to their lender in order for the short sale lender to process the short sale of the home. If they’re not able to provide such documentation or don’t meet the criteria, short sale lender may not approve the short sale.

-Buyers who are financing must qualify for the loan at the end of waiting period- If you’re financing, be sure to keep your credit scores same between the time you first apply for financing and the time of closing which could be anywhere between 3-9 months. This is not the time to purchase a new car, furniture or go charge happy! If your income to debt ratio goes down during the waiting period, you may not qualify to buy that house you had been waiting for.

Buyers should use short sale waiting period wisely by asking updates on the process from their Realtor on a weekly basis and also get market updates and know which direction home prices are going. If prices are increasing, prepare to pay more for the house than your offer. Don’t assume the short sale will be approved, keep your options open.

If you’re a homeowner in Clermont, Minneola, Groveland and Winter Garden areas and behind on your  mortgage, Short Sale might be your best option, give me a call at 407-929-1852 to discuss your options. Are you looking to buy a home, now is the great time, don’t delay, I would love the opportunity to meet with you. Contact me today

Originated here: http://activerain.com/blogsview/3733706/use-short-sale-waiting-period-wisely-

Where is Winter Garden Florida?

Wondering where is Winter Garden Fl?

where is Winter Garden Florida

There’s only a couple Winter Gardens in the entire US and one of them happens to be in Florida. (The other is on the other side of the US in California but we’re going to talk about the one in Florida)

Winter Garden Florida is located between Clermont and Orlando just South of Lake Apopka. The town is nestled on Florida’s Turnpike and the Daniel Webster Western Beltway or at the intersection of Highway 91 and 429. It’s bordered by Oakland on the West, Ocoee on the East the Lake on the North and Windemere to the South. It’s about 14 miles West of downtown Orlando and about 10 miles East of Clermont. It’s part of the Orlando Kissimmee Metropolitan statistical area with a population of less than 35,000. Although it’s surrounded by water with several lakes in the middle of it, over 15 mi.² are land and less than 1 mi.² is water.


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winter garden flThe historic downtown Winter Garden area is a collection of artistic shops and restaurants, cafés and coffee houses, Museum and performing arts venues, shops and boutiques. Toward the southern end of the city is the Winter Garden Village at Fowler Groves which is a multiplex chain of retail and dining establishments with an open-air shopping center that includes a Target, Best Buy, and Lowes.

Home prices in Winter Garden Florida range from about $130,000 to about $350,000. To the south there are some more higher and estates and mansions from a $500,000 to over 1.3 million. But the majority of homes in downtown winter garden usually range between $100,000 and $300,000.

Your Florida and Orlando Expert

I love living, working and playing in the area and if you love it just as much, give us a call to find your perfect dream home in the Orlando real estate market. I help buyers and sellers in Winter Garden, Clermont,  Minneola and all over the Orlando area. Where know where to live in Orlando!

 

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